You can receive your pay directly to your Shakepay account with direct deposit!
Here are the steps to set up a direct deposit:
Open the Shakepay app and log in.
Click on "Add funds".
Select "Direct deposit".
Copy your institution number, transit number and account number and share it with your employer or payroll provider.
Click on “Share” to share this information directly with your employer.
To download your void cheque, follow these steps:
Open the Shakepay app and log in.
Click on "Add funds".
Select "Direct deposit".
Click on "Download".
Click on the download icon in the top right to download your void cheque or to share it directly with your employer.
That's it! Once you have shared this information with your employer, you will now receive your paycheque directly in your Shakepay account.
To complete a direct deposit, the name on your deposit must match the name on your Shakepay account. Ensure that the full legal name on your Shakepay account matches the name fields on your transfers, avoiding abbreviations, nicknames, or other inconsistencies.
Here are the steps to set up pre-authorized debits from your account:
Open the Shakepay app and log in.
Click on “Send” .
Select “Pre-authorized debits”.
Ensure that pre-authorized debits are not disabled (by turning the toggle “off”).
Copy your institution number, transit number and account number and share it with your biller, service provider or external banking provider.
You can also download a copy of your void cheque to share these details if your provider supports it.
What is pre-authorized debit and what is it used for?
Pre-authorized debit (PAD) is a feature that enables you to use your account details in order to have funds debited from your Shakepay account by billers or service providers. PAD is most commonly used for making recurring payments such as a mortgage, auto loan or gym membership. When supported, PAD can also link an external bank account so you can move money between that account and your Shakepay account.
Troubleshooting and tips
I did not receive my paycheque on payday.
You will be notified by email if we receive your direct deposit and reject it. If you do not receive an email from Shakepay, we suggest that you contact your employer.
My direct deposit was rejected
If you received an email about your direct deposit being rejected, it means the deposit arrived with an incomplete name. We do need your full legal name to appear on your direct deposit for us to be able to credit it. Examples of problematic name formats include deposits under names like "Shakepay/btc" or "WWW INSTACART COM." These terms must be updated with your full legal name.
Our support team can help provide more information but you can also contact your employer and ask them to doublecheck your full name appears on your direct deposit. Provide your employer with a clear instruction to update deposit fields to match your Shakepay account's registered legal name without abbreviations or substitutions.
What is the usual timeframe between when payroll is paid by my employer and deposited in my Shakepay account?
You should receive your paycheque in your Shakepay account within 1 business day.
Can I receive payments from my Etsy/Shopify store?
We accept all direct deposits, including those from e-commerce stores.
Can I use direct deposit to withdraw funds, or send or receive funds via wire transfer?
If you have enabled the pre-authorized debits (PAD) feature, you may be able to use your account details to withdraw funds to an external bank account. Please note that not all institutions or service providers support this. For a faster and more reliable option, we recommend using our Interac e-Transfer or wire transfer functionalities.
Can I use direct deposit for pre-authorized debit transactions?
Yes! If you have pre-authorized debits (PAD) enabled for your account, you can use your Shakepay account details to set up payments with billers and service providers. For a pre-authorized debit to be successful, the name on the service or billing account you’re paying must match the name on your Shakepay account.
How to auto-buy bitcoin with your paycheque.
You can now setup an auto-buy so that when your payroll direct deposit arrives, you automatically convert a portion of it into Bitcoin or Ethereum.
To setup auto-buy with your direct deposit, follow these steps:
Open the Shakepay app and log in.
Click on Add funds.
Select Direct deposit.
Select Auto-buy
Enter the amount you would like to purchase
Click Review order
Review the details
Click Confirm
Great, it's done! (Ensure you have shared your Direct deposit account details with your employer, when your payroll payment arrives, the auto-buy will occur)
Please note: only payroll transactions are currently eligible for direct deposit auto-buy. Direct deposits that are not payroll transactions from an employer are not eligible for auto-buy at this time. An auto-buy can not be for an amount greater than your paycheque.
How to setup auto-buy if you already have direct deposits enabled from your employer
Follow these steps if you wish to add auto-buy but already have direct deposits enabled:
Open the Shakepay app and log in.
Select Cash balance from your Shakepay home screen
Select a completed direct deposit transaction from your employer in your transaction history
Select Auto-buy
Enter the amount you'd like to purchase and confirm the auto-buy!
Where can I find my ABA number for my direct deposit?
We do not provide ABA codes, as those are typically reserved for American or International payments. If there is a field for ABA, you can try inputting NA if something is required in that field. Use the information from your direct deposit void cheque to fill the other fields.
What happens if my pre-authorized debit fails or gets rejected?
Your pre-authorized debit could fail for a number of reasons, including but not limited to the feature being disabled, incorrect account details being shared with billers and service providers, insufficient funds in your account and a name mismatch between your Shakepay account and the name on the service or billing account you’re paying. If your debit was rejected, you should reach out to your biller or service provider to initiate another debit request after correcting the problem.
Dispute a pre-authorized debit transaction
What pre-authorized debit transactions can be disputed?
We can help you dispute pre-authorized debit transactions in a few scenarios:
No signed agreement exists between you and the biller or service provider
The amount debited was different from what has been agreed upon
The transaction occurred after an agreement was cancelled
Shakepay cannot help you with disputes in the following scenarios. If any of these occur, please reach out to the biller or service provider directly.
Unsatisfactory service or product was received
A transaction for a service or product that you did not cancel
A transaction that is older than 90 days
How do I dispute a pre-authorized debit transaction?
If you believe your account has been debited erroneously or if you believe the amount debited is incorrect, please reach out to the biller or service provider (if applicable) for more information and to try and resolve the issue. You have up to 90 days from the date the debit was processed to make your claim.
Only if that is unsuccessful, we can assist you in certain scenarios with a dispute. Prior to reaching out to our Customer Support team, please:
Confirm the expected company name matches the name of the biller on the transaction. These names may not always be the same.
Confirm the amount is correct and matches your signed agreement with the biller or service provider. Please note there could be instances where a different amount is charged during a promotional or trial period.
Once you have confirmed the above and would like to submit a dispute, please reach out to our Customer Support team with the following information:
The date and the amount of the transaction you would like to dispute
The name of the biller or service provider
The reason for disputing the transaction
Please note it may take up to three weeks to resolve a dispute. We may reach out for additional information during the dispute process.